James Glassman , a senior economist at JPMorgan Chase & Co. , said it was a mistake for him to call members of a Senate panel ignorant and to call for “grownups to step in” to the financial reform debate.

The U.S. economy “lost several decades of work in this last recession,” and many states, such as Ohio, continue to struggle with widespread joblessness , said James Glassman , senior economist at JP Morgan Chase & Co. in New York.

Argentina’s 12-year fight to shake off its 2001 financial crisis is in the hands of U.S. judges who assailed its “continual disregard” for creditor rights and refused to overturn lower court orders the nation repay billions of dollars in debt it defaulted on when its economy buckled.

American employers in April added more jobs than forecast and the labor market in the prior two months was stronger than initially estimated, indicating the world’s largest economy is weathering the impact of higher fuel prices.

Unemployment won’t ease to 4.5 or 5 percent for 10 years, according to Lakshman Achuthan , managing director of the Economic Cycle Research Institute, and James Glassman , senior economist at JPMorgan Chase & Co.